Sanmina Corporation (SANM) Upgraded to Strong-Buy by ValuEngine
Sanmina Corporation (NASDAQ:SANM) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Royal Bank Of Canada lowered their price objective on shares of Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 25th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Sanmina Corporation in a research note on Thursday, June 15th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Sanmina Corporation has an average rating of “Buy” and an average target price of $42.80.
Shares of Sanmina Corporation (SANM) traded up 0.53% on Friday, reaching $37.65. 411,291 shares of the company’s stock traded hands. Sanmina Corporation has a 52 week low of $26.27 and a 52 week high of $42.95. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 13.75 and a beta of 0.78. The company has a 50 day moving average price of $37.20 and a 200 day moving average price of $38.29.
Sanmina Corporation (NASDAQ:SANM) last released its earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.74 billion. Sanmina Corporation had a net margin of 3.15% and a return on equity of 12.35%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. On average, equities research analysts predict that Sanmina Corporation will post $3.01 earnings per share for the current fiscal year.
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In other news, VP Robert K. Eulau sold 10,000 shares of Sanmina Corporation stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $38.40, for a total value of $384,000.00. Following the transaction, the vice president now directly owns 200,000 shares of the company’s stock, valued at $7,680,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.96% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Sanmina Corporation by 20,899.1% in the first quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock valued at $449,352,000 after buying an additional 11,015,080 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sanmina Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock valued at $293,059,000 after buying an additional 548,729 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Sanmina Corporation by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock valued at $241,823,000 after buying an additional 65,223 shares in the last quarter. LSV Asset Management boosted its stake in Sanmina Corporation by 2.5% in the second quarter. LSV Asset Management now owns 3,731,489 shares of the electronics maker’s stock valued at $142,169,000 after buying an additional 91,300 shares in the last quarter. Finally, State Street Corp boosted its stake in Sanmina Corporation by 3.6% in the second quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock valued at $73,977,000 after buying an additional 67,853 shares in the last quarter. Institutional investors and hedge funds own 92.79% of the company’s stock.
About Sanmina Corporation
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.
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